The Reserve Bank of India (RBI) reported on Friday that India’s foreign exchange reserves fell by $6.78 billion to $675.65 billion for the week ending November 8. Following its peak of $704.89 billion at the end of September, the foreign exchange basket has declined for several weeks. Over the last six weeks, their total decline…
The rupee’s ongoing depreciation is mainly due to a strengthening dollar and selling by foreign investors. As the currency continued to decline, it reached a fresh closing low of 84.40 against the US dollar. The rupee settled at 84.40 after ranging from a high of 84.38 to a low of 84.41 during the day. According…
On Friday, the rupee dropped 5 paise to an all-time low of 84.37 against the US dollar, fueled by ongoing outflows of foreign funds and a weak trend in domestic stocks. According to Forex dealers who spoke to PTI, the US Federal Reserve’s recent move to lower interest rates implies a change in the global…
The Federal Reserve Chairman stated that lowering interest rates will be the central bank’s top priority in the upcoming months, which caused U.S. Crude prices to rise by more than 1% on Friday. West Texas Intermediate (WTI) crude futures increased by $1.33, or 1.81%, to $74.34, while Brent crude futures gained $1.27, or 1.63%, to…
In the opening hours of trading on Friday, the rupee strengthened by 38 paisa to 82.75 against the US dollar as investors’ confidence increased as a result of India’s inclusion in the JPMorgan bond index. Forex dealers predicted that JPMorgan Chase & Co.’s move to incorporate Indian government bonds in its benchmark emerging-market index would…
In early trade on Wednesday, the rupee traded in a narrow range against the US dollar as high crude oil prices and a strong greenback offset the support from favorable macroeconomic data. Foreign exchange dealers claimed that domestic industrial production and retail inflation data were better than expected and backed up investor confidence. Investors are…
On Tuesday, when the US dollar declined from its high levels, the rupee bounced back from its record low levels and ended the day 19 paise higher at 82.94 (provisional).In line with a weakening US dollar, according to forex traders, the rupee strengthened. Foreign investors’ push to sell their investments amid risk aversion on international…
Despite conflicting global cues, the price of gold is trading higher on Friday, while the price of silver is up 0.5%. Gold February futures were selling at Rs. 55,383 per 10 kilos on the Multi Commodity Exchange, up Rs. 93 or 0.17%. On the MCX, silver March futures were trading 337 rupees higher at Rs….
